Lensman & Associates is forming a group in Belmont County. Anyone with acreage in Belmont County should contact this firm quickly if they are tired of waiting for an offer. They will submit bid packages October 10th and finalize bids on November 5th. They are negotiating to get the full bonus before December 31st so it applies to 2011 taxes. Taxes are almost guaranteed to increase in 2012 for both federal and state. With the recent announcement from Chesapeake about the production of the well in Harrison County, this offer should be fairly good. The XTO deal a few weeks ago is looking like 19% on the net royalty, not on the gross and $4950/acre bonus. The new deal should be better than what XTO was offering.
i tried contacting this larry cain multiple times he don't give a shit about anyone. Maybe if you have 50+ acres.
Besides i heard that there is more supply than demand and no one is producing. Buying has slowed down until these wells start producing.
don't bother with the goshen group.
Mickgyver & Finnbear, It appears that your leaders may be overwhelmed, as well as they should be. Maybe give these folks the date, time and location of the next group meeting, when known, so they can attend and sign up their land then? Just a thought.
Adam Sorell, There you go. Be there or be square. With the amount of money involved, I think I'd take a day off of work if I had to to make sure I got my foot in the door. No excuses.
It sounds as if folks are running around willy-nilly chasing #'s and royalty %'s ... this group, that group. Does anyone care what comes after those lease figures? I hope so or OH will repeat many of the same mistakes that PA folks made, and companies will take the flak for "trickery" when all that was needed was patience and common sense.
The longer it takes for solid deals to materialize, the kind that don't give you nightmares in a few months, ... the more little individual groups will break off weakening everyone's bargaining power --- EXCEPT the companies'. Think about it. What DO Ohio people want?